The Indian government has declared national mourning on March 29 in honour of Singapore’s iconic leader Lee Kuan Yew, a robust proponent of stronger India-Singapore relations. India’s national flag will be flown at …Read More
Conjuring up a bright picture for the India growth story, the Indian government has projected that the country’s economy will grow at a rate of more than 8 per cent in the 2015-16 fiscal year, while consumer inflation will drop to between 5 and 5.5 per cent.
The Economic Survey report, which was tabled on February 27 in parliament by India’s Finance Minister Arun Jaitley, a day before the NDA-led BJP government’s first full Union Budget, forecast that the Indian economy would grow by 8.1-8.5 per cent under a new calculation method that makes India the world’s fastest growing large economy.
The survey, a big-picture report on the state of Indian economy, also indicated that India can increase public investments and still achieve its borrowing targets.
The survey is clear about the government’s priorities: India needs to stick to its medium-term fiscal deficit target of 3 percent of gross domestic product.